Rangers have been told to relaunch in the fourth tier after collapsing under their debt pile, breaking the stranglehold they have had with city rivals Celtic on the Scottish game for decades.
They have been replaced in the Scottish Premier League by Dundee after the Glasgow side were demoted following their financial crisis.
"We are pleased to confirm that agreement has been reached on all outstanding points relating to the transfer of the Scottish FA membership between Rangers FC (In Administration), and Sevco Scotland Ltd, who will be the new owners of The Rangers Football Club.
"A conditional membership will be issued to Sevco Scotland Ltd today, allowing Sunday's Ramsdens (League) Cup tie against Brechin City to go ahead.
"Following the completion of all legal documentation, the Scottish Premier League will conduct the formal transfer of the league share between RFC (IA) and Dundee FC on no later than Friday 3rd August 2012."
